They enable the buildout of battery storage required to support the proliferation of renewable energy generation. Solar energy storage and data center backup power. is currently the world's biggest market for energy storage.ĮPC Power's smart inverters are uniquely suited for applications in stand-alone energy storage, Manufactured in the U.S., EPC Power is a natural continuation of our thematic investmentĪctivity in this space, in partnership with Cleanhill Partners and EPC management."Įnergy storage installations globally are projected to multiply 20 times by the end of 2030Ĭompared to the end of 2020, according to BloombergNEF's 2021 Global Energy Storage The only scaled supplier of smart inverters that are designed, engineered and 100% Growth," said Alexander Mass, managing director of Goldman Sachs Asset Management. solar andĮnergy storage value chains and is now well capitalized to continue its trajectory of rapid "EPC Power is uniquely positioned to play a critical role in the evolution of the U.S. "As prior investors in EPC Power, we have every confidence that the company will meet its ambitious and environmentally critical objectives and we are excited to partner with Goldman Sachs for the next stage of EPC Power's growth." Reliability and performance," said Rakesh Wilson and Ash Upadhyaya, managing partners atĬleanhill Partners, which first invested in EPC Power in 2021 when it underwrote a credit facility to support its growth since then, the firm has also provided counsel on operational matters and facilitated strategic partnerships to help the company achieve rapid scale. Technology, which directly supports the renewable energy transition while preserving grid "In an exploding market of cleantech innovators, EPC Power stands out for its industry-leading Goldman Sachs and Cleanhill Partners support this vision and are committed to investing in EPC Power and our people to capitalize on this exciting market opportunity and to positively impact the U.S. "As the world becomes more reliant on renewable energy, inverters need to continue to get smarter. "EPC Power is extremely proud of the strong reputation and track record we've built by focusing on product innovation and forging deep relationships with our customers," said Devin Dilley, co-founder and chief executive officer of EPC Power Corp. EPC Power is the only U.S.-based, end-to-end power conversion solution provider, making its technology well-suited for grid-scale applications that require added layers of security. The transaction closely follows the signing into law of the Inflation Reduction Act of 2022, which among other provisions extends a first-ever tax credit to stand-alone energy storage, creating a significant financial incentive for adopting EPC Power's inverters and other technologies. The strategic investment, along with a comprehensive recapitalization, positions EPC Power to expand and deliver against rapid growth in the renewable energy storage markets while helping facilitate the U.S. Performance, utility-scale, smart inverters, today announced the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs) and Cleanhill Partners have acquired a majority stake in its company. How Companies Can Earn Income from Energy Storage, From the East to West Coast.Solar in Paradise: Getting Renewable Wins in Tough Island Conditions.Discussion with Boviet Solar about Rebranding and Tier 1 status.DroneBase Unveils First Solar Quality Rating System for Asset Conditions in the U.S.Hybrid Microgrid System Helps Company Meet Production and Sustainability Goals.
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